Money is rolling into the coffers of Ohio's 88 counties as a result of the openings of three casinos.

The Horseshoe Casino in Cleveland on Wednesday will mark the sixth-month anniversary of its grand opening in the former Higbee's building on Public Square.

On May 29, the Hollywood Casino in Toledo will reach the same juncture in its history. The other Hollywood Casino, in Columbus, opened its doors on Oct. 8.

When the Horseshoe Casino in Cincinnati opens in spring 2013, it will bring to four the number of casinos built in the wake of the passage in November 2009 of Issue 3, a statewide referendum on casino gambling.

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The money going to counties is culled from a 33 percent tax on gross casino revenues less winnings paid.

Lake County has received $601,185.77 in the first two quarterly remittances from the Casino Tax Revenue Fund. Geauga County has received $243,806.

The amount received by each of Ohio's 88 counties is based on population.

Casino tax revenue distribution to area counties, 2012

County

July 31

Oct. 31

Total

Ashtabula

$88,464.75

$176,568.50

$265,033.25

Cuyahoga

$554,424.21

$1,106,586.01

$1,661,010.22

Geauga

$81,379.36

$162,426.64

$243,806

Lake

$200,668.21

$400,517.56

$601.185.77

"We appreciate all revenue sources, but because these casino funds are not guaranteed, we aren't using them for operating expenses,'' Lake County Administrator Jason Boyd said.

Boyd said Lake County commissioners are instead using casino funds to fund programs for economic development.

The county's general fund budget for 2012 is $58.6 million.

"It's going to take a full year of having all four casinos up and running to establish a baseline for how much we'll receive from the fund,'' Boyd said "Then, you can do some budgeting. Until then, we'll take a cautious approach to how we use that money.''

Geauga County Commissioner Tracy Jemison said he and his fellow commissioners have adopted a similar attitude toward the casino funds.

"We won't use it for operating expenses, but we will use it to pay down debt on projects like the $4.5 million upgrade we just did on a radio system for our safety forces,'' Jemison said.

Jemison said the influx of casino funds comes at an opportune moment for Geauga County.

The county's take from Ohio's local government fund has diminished from a past peak of $1.32 million to the current level of $750,000.

Because of low interest rates, the county's annual investment income is down from $2.4 million to about $400,000.

"At the county level, we're all in the same boat," Jemison said. "This newfound money helps, but it does not get you back to even.''

School districts are slated to receive twice-yearly payments from the Casino Tax Revenue Fund, the first scheduled for on or near Jan. 31, 2013.

Whether it is counties, school districts, home cities of the casinos or other entities that by law will receive monies from the Casino Tax Revenue Fund, all are monitoring steady declines in revenue at the Cleveland and Toledo casinos.

According to figures released earlier this month by the Ohio Casino Control Commission, gross revenues at both casinos have dipped in each of the past four months.